ERIC Number: ED439316
Record Type: Non-Journal
Publication Date: 1997-May
Reference Count: N/A
Impacts of Credit Cards on Individuals, Families and Society in Hong Kong: An Exploration.
Chan, Alfred C. M.
Credit cards have swept through almost every social class and all ages in Hong Kong. This paper attempts to provide a preliminary analysis of the possible impact of credit cards on individuals and their families in Hong Kong. A literature review reveals that Hong Kong people, while enjoying the freedom and convenience of "plastic money," are following in the United States' footsteps of easy future spending and huge debts. An analysis on credit card adoption did reveal some problems experienced by families and society. Impacts of the changes in the concept of money spending, banking activities, and purchasing activities on consumers have been observed to be different for people from diverse social class status and from various age groups. In response to these new emerging problems, social welfare professionals have been urged to gain new intervention skills and knowledge. They have been encouraged to equip themselves with skills in credit counseling, family budgeting, and financial management, so that they are more ready to assist the increasing number of clients with such problems as well as provide preventive programs. (JDM)
Publication Type: Opinion Papers; Speeches/Meeting Papers
Education Level: N/A
Authoring Institution: N/A
Identifiers - Location: Hong Kong